Interactive Brokers Expands Cryptocurrency Trading with New Token Offerings
GREENWICH, Conn.–(BUSINESS WIRE)– In a significant expansion to its cryptocurrency trading platform, Interactive Brokers (Nasdaq: IBKR) has announced the addition of four widely-traded digital tokens: Solana (SOL), Cardano (ADA), Ripple (XRP), and Dogecoin (DOGE). These new offerings complement the previously available Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), effectively providing investors with a broader range of options among the most active cryptocurrencies.
Enhanced Flexibility for Investors
According to Steve Sanders, Executive Vice President of Marketing and Product Development at Interactive Brokers, the inclusion of these new tokens allows clients greater flexibility to diversify their investment portfolios. "Adding these new tokens gives our clients even more flexibility to diversify their portfolios and take advantage of opportunities across digital assets," stated Sanders.
Investors who hold accounts with Zero Hash LLC can access SOL, ADA, XRP, and DOGE, while clients of Paxos Trust Company will have the option to trade SOL.
Seamless Integration with Traditional Assets
Eligible clients of Interactive Brokers LLC (IB LLC) and Interactive Brokers (U.K.) Limited (IB UK) now have the ability to trade cryptocurrencies alongside traditional asset classes such as stocks, options, futures, currencies, bonds, and mutual funds – all on a single platform. This integrated approach simplifies the investment process, allowing investors to manage their cryptocurrency holdings and conventional assets within a unified interface.
The platform facilitates spot cryptocurrency positions while simultaneously offering hedging solutions through crypto futures, options, and ETFs, catering to a wide range of investment strategies.
Competitive Trading Costs and Features
Interactive Brokers prides itself on providing some of the lowest trading costs in the cryptocurrency market. Monthly commission fees vary from 0.12% to 0.18% of trade value, with a minimum order fee of $1.75. Notably, the service does not impose any additional spreads, markups, or custody fees, ensuring a transparent pricing structure for clients.
Clients utilizing the cryptocurrency trading service can engage in activities such as holding both USD and cryptocurrencies within their trading accounts, trading cryptocurrencies continuously, placing non-marketable limit orders for precise control over their trades, and withdrawing cryptocurrencies to external wallets for enhanced flexibility.
A Commitment to Innovation and Efficiency
The expansion into cryptocurrency trading underscores Interactive Brokers’ commitment to offering clients a comprehensive trading experience. With a robust technological infrastructure and advanced trading tools, the firm aims to equip users with the capability to navigate both traditional and digital markets effectively.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade execution and custody services across a wide spectrum of assets including securities, commodities, and currencies. Serving a diverse clientele including individual investors and institutional traders, the company continues to focus on leveraging technology to enhance its service offerings and maintain competitive execution prices.
For more information, clients can explore the interactive trading options at their respective sections for the U.S. and U.K. regions.
Media Contact:
Katherine Ewert
[email protected]
This article is intended for informational purposes only and does not constitute investment advice.
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